Select a Cryptocurrency Exchange<\/b><\/li>\n<\/ul>\nOnce you have settled on Bitcoin, Ethereum, Ripple or any other cryptocurrency, you need to find a way to convert your fiat currency into digital coins. The safest way to transform your retirement money into digital currency is through an exchange. This not only guarantees the safety of your funds but also allows you to track the latest prices on the market conveniently.<\/span><\/p>\nWhen choosing a crypto exchange, it\u2019s important to note that every organization works in a different fee model. That means you have to familiarize yourself with the fee schedules before you decide to sign up with any company. In most cases, the transaction fee ranges at about 2%, but it may go up to 5% if you choose to buy your coins from brokers.<\/span><\/p>\n\n- Get a Wallet<\/b><\/li>\n<\/ul>\n
As a new cryptocurrency investor, it can be a bit hard to understand how crypto wallets work. However, it\u2019s imperative to know how they work, considering that you want your currency to stay safe. For example, getting the <\/span>best Bitcoin wallet<\/b> would mean understanding how different system works and choosing what\u2019s convenient for you.<\/span><\/p>\nGetting a crypto wallet is like having a glass safe full of gold coins that everyone can see. That means that everyone can see your public address or key, but it will only allow the wallet owner to access the coins. However, it needs to follow a robust security protocol to ensure that your funds are secured against hacking, identity theft, and many others.<\/span><\/p>\nTo ensure that you have full control over your funds, you need to ensure that only one individual has access to the private key. The wallet is basically a digital computer file that stores the information used in receiving and sending virtual currency.<\/span><\/p>\nWhen buying cryptocurrency, you can hold the coins at an exchange wallet or in your own hard (cold) or digital (hot) wallet. However, it\u2019s advisable to use a retirement account plan, such as a Solo 401(k) plan, if you are purchasing the digital currency using your retirement funds. This will allow you to buy and sell your currencies without going through a third party broker or IRA custodian.<\/span><\/p>\n The Bottom Line:<\/b><\/p>\n
Since cryptocurrencies are highly passive in nature, investing in digital currency using your retirement funds is not considered a high-risk investment by the IRS. However, currencies such as Bitcoin can be highly volatile, and their future can be very uncertain. This means that every retirement account investor should do due diligence and proceed cautiously when securing their funds.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"For most people, retirement opens you up into a world of financial insecurity and welcomes you into an uncertain future. Like a nagging visitor, it comes at the least expected time, and soon it starts to hit your financial reserves hard. When you retire, all you want is to have some peace and quiet, as […]<\/p>\n","protected":false},"author":594,"featured_media":20201,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","om_disable_all_campaigns":false,"footnotes":"","_jetpack_memberships_contains_paid_content":false},"categories":[2],"tags":[],"yst_prominent_words":[14862,14857,14846,6247,14868,1808,3092,14865,14864,5200,14867,14854,14863,4463,1719,3023,11424,14869,14866,13335],"acf":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/www.escapeartist.com\/wp-content\/uploads\/2018\/07\/coins-1726618_1920.jpg","_links":{"self":[{"href":"https:\/\/www.escapeartist.com\/wp-json\/wp\/v2\/posts\/20196"}],"collection":[{"href":"https:\/\/www.escapeartist.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.escapeartist.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.escapeartist.com\/wp-json\/wp\/v2\/users\/594"}],"replies":[{"embeddable":true,"href":"https:\/\/www.escapeartist.com\/wp-json\/wp\/v2\/comments?post=20196"}],"version-history":[{"count":5,"href":"https:\/\/www.escapeartist.com\/wp-json\/wp\/v2\/posts\/20196\/revisions"}],"predecessor-version":[{"id":33434,"href":"https:\/\/www.escapeartist.com\/wp-json\/wp\/v2\/posts\/20196\/revisions\/33434"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.escapeartist.com\/wp-json\/wp\/v2\/media\/20201"}],"wp:attachment":[{"href":"https:\/\/www.escapeartist.com\/wp-json\/wp\/v2\/media?parent=20196"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.escapeartist.com\/wp-json\/wp\/v2\/categories?post=20196"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.escapeartist.com\/wp-json\/wp\/v2\/tags?post=20196"},{"taxonomy":"yst_prominent_words","embeddable":true,"href":"https:\/\/www.escapeartist.com\/wp-json\/wp\/v2\/yst_prominent_words?post=20196"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}